Location: Ashtabula County, OH | Metro: Ashtabula County, OH HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
The ZIP code 44068 stands out due to its unique characteristics that set it apart from other areas. With only 167 residents, it has a rental rate of 26.9%, indicating a smaller but significant portion of the population relies on rented housing. The median income here is $57,863, which is relatively modest compared to national averages, and the median home value is $186,846, suggesting a mix of affordability and stability in the local real estate market.
Moving into the specifics of Section 8 vouchers, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $980. However, there's a lack of specific market data for ZIP 44068 itself, which means landlords and small-portfolio investors should be cautious when setting their rent rates based solely on the FMR. It's important to consider the actual rental trends within the ZIP code to ensure competitiveness and profitability.
The data signature for ZIP 44068 reads as stable. Despite the small number of residents, the median income and home values suggest a consistent economic environment where the majority of residents can afford housing. This stability is further supported by the absence of rapid changes in the rental market, which would typically indicate a transitional phase. Landlords and investors should focus on understanding the local rental demand and supply dynamics to make informed decisions about participating in the Section 8 program.
In conclusion, while the Fair Market Rent provides a guideline for rental rates, the lack of specific market data for ZIP 44068 means that investors must rely on broader regional trends and local knowledge. The overall economic indicators point towards a stable environment, making it a potentially good investment for those willing to engage with the intricacies of the local market.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.